Weekly Market Update Oct 20

Weekly Market Bulletin - October 20

🔍 Market Snapshot

• Nifty 50: Down 0.4% to 24863
• Midcap 50: Down 0.36% to 16460
• FII: Sold 21823 Cr, DII: Bought 16384 Cr
• Top Movers:Bajaj Auto (-15.46%), Wipro (+3.68%)

📊 Sectors in Focus

• Auto: Down 4.88%
• Metal: Down 1.8%
• Bank: Up 1.8%

📰 Market News This Week

1. RBI Governor dashes rate cut hopes:
   RBI governor Shaktikanta Das ruled out a rate cut in the immediate future, given that headline inflation is expected to rise in October as well before it starts moderating.

2. FPI Exodus in October:
   FPIs sold ₹66,301 crore in Indian stocks during the first half of October, with the Financial Services, Oil & Gas, and Automobile sectors experiencing the most pronounced impact.

3. Global Markets::
   Wall Street saw gains driven by tech stocks, notably Netflix’s impressive 10% surge after strong earnings, boosting the Nasdaq and S&P 500

📌 Update on our Stock Picks

1. Thangmayil Jewellery

   • The stock has broken below our stoploss level hence we recommend taking in exit for short term investors. However, long term investors can check out our Notebook on the Jewellery Industry

2. Petronet LNG

   • We recommend holding this stock since it has maintained above our stoploss level of 343. Investors can check out this Notebook for the fundamental analysis on the stock.

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Stay tuned for more updates next week!